Concessional Contributions Cap

Income Year:  2014/15                        Amount of Cap:  $30,000

Notes:

  • From 1 July 2014, individuals age 50 and above will be able to make up to $35,000 in concessional contributions.

Non-Concessional Contributions Cap

Income Year:  2014/15                        Amount of Cap:  $180,000

Notes:

  • The bring-forward option is available, meaning that people under 65 years of age can make non-concessional contributions of up to $540,000 over a three-year period,
  • In accordance with subsection 292-85(2) of the ITAA 1997, the non-concessional cap for an income year is six times the concessional contributions cap.